Blockchain Stocks to Watch Today - March 9th

Today, five blockchain stocks stand out as noteworthy investments. These stocks are linked to companies actively engaged in the development, implementation, and utilization of blockchain technology. The stocks to focus on include Oracle, Bit Origin, Core Scientific, Riot Platforms, and Applied Digital. A stock screener tool identified these picks based on their significant trading volume in recent days.

Oracle (ORCL)

Oracle Corporation offers a wide range of products and services that cater to enterprise IT environments on a global scale. Their cloud software as a service (SaaS) offerings encompass various applications, including Oracle Fusion cloud ERP, Oracle Cerner healthcare, and Oracle Advertising.

On Friday, Oracle's stock rose by $4.95, reaching $155.89, with trading volume peaking at 12,628,662 shares, surpassing the average volume of 11,632,912. The company has shown strong performance over the past year, with a low of $111.18 and a high of $198.31. Currently, Oracle boasts a market capitalization of $436.01 billion and its stock is valued at a P/E ratio of 38.11.

Bit Origin (BTOG)

Shares of Bit Origin saw an increase of $0.34, reaching $0.62 in midday trading on Friday. This stock demonstrated remarkable trading activity with 620,152,901 shares being exchanged, in contrast to an average volume of 4,803,026. Notably, Bit Origin has fluctuated between a 52-week low of $0.16 and a high of $6.04.

The firm’s financial ratios indicate a debt-to-equity ratio of 3.61, and its current and quick ratios stand at 2.68, revealing a sound short-term financial position.

Core Scientific (CORZ)

Core Scientific, Inc. specializes in providing digital asset mining services across North America. They operate two main segments: Mining and Hosting. The company not only mines digital assets for itself but also hosts facilities for other miners, offering support functions such as monitoring and maintenance.

On Friday, shares of Core Scientific dropped by $0.07 to $7.78, with trading volume reaching 31,827,030, significantly higher than its average of 10,539,098. Over the past year, the stock has hit a low of $2.61 and a high of $18.63, with a market cap of $2.29 billion.

Riot Platforms (RIOT)

Riot Platforms, Inc. functions primarily as a bitcoin mining entity. This company has developed several business segments: Bitcoin Mining, Data Center Hosting, and Engineering. They provide essential infrastructure for large-scale bitcoin miners, including co-location services and data center operations.

This past Friday, Riot's stock price rose by $0.26, reaching $8.37. Approximately 25,053,225 shares traded hands, compared to an average volume of 31,659,838. With a market cap of $2.93 billion, the stock has demonstrated a 52-week range between $6.36 to $15.87.

Applied Digital (APLD)

Applied Digital Corporation focuses on designing and operating data centers in North America, providing infrastructure for high-performance computing. Their services include AI cloud solutions and hosting for cryptocurrency data centers.

On Friday, Applied Digital’s stock increased by $0.26 to $7.26, with trading volume hitting 22,149,767 shares against an average of 28,500,266 shares. The stock exhibits a 52-week low of $2.36 and a high of $12.48, with a market cap of $1.62 billion.

Conclusion

These five blockchain stocks are essential to watch due to their innovation and growing influence within the blockchain sector. Investors interested in these companies should consider market trends and individual performance metrics before making investment decisions.

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